2. Public accountants – These serve the general public. They may perform specialized services such as auditing, tax accounting and management consulting.

For small business owners, the areas that would occupy most of your time is financial and management accounting. Financial accounting provides information to people outside the business including creditors and the government for tax purposes. Management accounting generates information for you, the person who manages the operations of the business. This will produce how much you are spending on manufacturing your products or providing your services in a way that you can see where you are lacking and where you are doing well on.

If you are looking for accountant services or professional accounting advice or assistance, then it is important that you conduct research on the internet for different accountants, credentials and prices etc.

PAYE in Real Time (RTI) - 06 / 04 / 2013from 6th April 2013 employers whatever their size will have to start reporting PAYE information to HMRC in real time.Real time information or RTI involves employees sending HMRC details every time they pay an employee on or before payment is actually made.

Universal credit by DWP.

The biggest changes by by DWP is the introduction of universal credit from October 2013.